SafeMoon Slides to 0.00002800: Is it Still Worth Investing?
- Last week’s fall of SafeMoon to the 0.00002900 level continues to keep the price in shock
- Over the weekend, the price of Litecoin managed to gain support at the $70.00 level and climb up to the $73.00 level.
SafeMoon chart analysis
Last week’s fall of SafeMoon to the 0.00002900 level continues to keep the price in shock. We have seen movement in the 0.00002900-0.00003400 range in the previous four days. The weekend was relatively uninteresting as we moved in the lateral range. Monday brought more volatility and a bearish impulse to a new low at the 0.00002800 level. It was all short-lived, and the price bounced back above the 0.00003000 level.
After that, we saw a bullish impulse and a jump to the 0.00003600 level. Then, we return again to the previous movement zone. Today’s movement occurred around the 0.00003000 level, and we are now looking at a slight recovery to the 0.00003100 level. About the zone around the 0.00003300 level, we have additional resistance in the EMA200, which would be an obstacle for us to make a more specific break and attempt to recover. Potential lower targets are the 0.00002800 and 0.00002700 levels.
Litecoin chart analysis
Over the weekend, the price of Litecoin managed to gain support at the $70.00 level and climb up to the $73.00 level. Then there was a pullback yesterday to $70.50 where we are getting support again. After forming a bottom at that level, the price starts a bullish consolidation and rises to $73.45, where we form a new price high. We stop there and return to new support at the $71.90 level.
Litecoin forms a higher low there and, from there, starts a bullish consolidation up to the $72.70 level. Potential higher targets are $73.00 and $73.50 levels. We need a negative consolidation and pullback below today’s low at $71.90 for a bearish option. A drop below would form a new low and thus confirm a bearish option. Potential entry targets are the $71.00 and $70.50 levels.
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